A flywheel is not really necessary. I used to have a Southbend clutch on my Z32 and loved it so I would probably go with their stage 4 clutch and upgraded csc. It comes down to less than $900 for both.
Downpipes with external wastegates are optional, that's what you are seeing on the pics, you can vent them to atmosphere (illegal) or you can recirc back to exhaust. They are $1k+. You can get 3" testpipes instead for less than $400.
If it's within budget I would upgrade exhaust, it does not have to be a 3" though. HKS Turbo Ti is 2.75" and even a nice flowing 2.5" will do
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